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In this video tutorial, hosts Sarah Cage and Adam Olson discuss lease accounting, focusing on the implementation of ASC 842. They are joined by Ty Cotter, an expert in lease accounting, who shares his experience with embedded leases. The discussion aims to clarify the new leasing guidance required for private companies in 2022, helping them identify all their leases. The hosts emphasize that this information will also serve as a refresher for those already familiar with the guidance. Adam Olson suggests starting with a clear definition of a lease under U.S. GAAP to provide context for the conversation about embedded leases.